MANNER OF PAYMENT, RECEIPT OF PREMIUM AND ASSUMPTION OF RISKInternational Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022
MANNER OF PAYMENT, RECEIPT OF PREMIUM AND ASSUMPTION OF RISKInternational Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022
Regulation 5 - Assumption of risk with or without receipt of premium in advance
International Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022 Chapter II MANNER OF PAYMENT, RECEIPT OF PREMIUM AND ASSUMPTION OF RISK
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Insurance risk assumption requires premium receipt, prescribed security, advance deposit, or contractually compliant premium payment arrangements. Assumption, continuation or termination of insurance risk by an IIO requires satisfaction of an applicable premium-payment condition. These conditions ... Summary
International Financial Services Centres Authority (Manner of Payment and Receipt of Premium) Regulations, 2022
Assumption, continuation or termination of insurance risk by an IIO requires satisfaction of an applicable premium-payment condition. These conditions include receipt of premium, a prescribed premium guarantee, an advance deposit for adjustment against premium, or payment in accordance with insurance contract terms or another manner specified by the Authority.
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